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L&T to invest $400 mn on expanding shipbuilding capacity

L&T to invest $400 mn on expanding shipbuilding capacity
PTI
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First Published: Tue, Feb 16 2010. 12 23 PM IST
Updated: Tue, Feb 16 2010. 12 23 PM IST
New Delhi: Construction major Larsen & Toubro on Tuesday said it will invest $400 million in ramping up its ship manufacturing capacity.
“We have lined up investment for around $400 million which will be spent on ship building capacities mostly dedicated to navy near Ennore port,” Larsen & Toubro senior executive vice president and member of the board M V Kotwal told PTI on the sidelines of the defence expo 2010.
Over the next four-five years, we are targeting a revenue of Rs2,500 crore from defence, nuclear and avionic segment.
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First Published: Tue, Feb 16 2010. 12 23 PM IST